What the heck does it take to.... HARP?

What the heck does it take to HARP?

In no particular order, you should make sure that you fall within these lines in order to enjoy HARP possibilities.

• HARP mortgages are backed by Fannie Mae and Freddie Mac. Check out your mortgage to be sure:
• Only owned or guaranteed by Fannie Mae or Freddie Mac quality
• Only those mortgages that were securitzed prior to June 1, 2009 can apply for HARP
• Make sure your loan's PMI is not paid by your lender - its called LPMI (Lender Paid Mortgage Insurace); its built into your rate. So if it says LPMI - you do not qualify and if your mortgage statement shows PMI - you are ok on this point,
• OK here's a sticky one in these days and times - You must be current - at least the last six month mortgage payment must have been paid on time, with no more than 1 (30 day late payment) in the last year
• Make sure you have your paperwork in order (bank statement, driver license, homeowners insurance information, current paystubs and W2s (may need last 2 years). Income taxes for sure for the self employed, but have them just in case they ask

Fannie Mae Guidelines for HARP

Freddie Mac Guidlines for HARP

Homeowners, there is a New Horizon coming... get ready to be included - get yourself ready to try HARP and save your home.